On June 1,2017,Ellen Turned 65

question 76

Multiple Choice

On June 1,2017,Ellen turned 65.Ellen has been a widow for five years and has no dependents.Her standard deduction is

• A)$4,050.
• B)$6,350.
• C)$7,900.
• D)$12,700.

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Definitions:

Annual Deficit

The shortfall in a government's income compared to its spending in a given fiscal year.

George Bush

Refers to either George H.W. Bush, the 41st President of the United States (1989-1993), or his son George W. Bush, the 43rd President of the United States (2001-2009), each having made lasting impacts on American and international politics.

Crowding-in

An economic phenomenon where increased government spending leads to higher private sector investment.

Crowding-out

A situation where increased public sector spending reduces the amount of available funds for private sector investments.